Federal Signal Corporation (FSS) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Federal Signal Corporation (NYSE:FSS) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Federal Signal Corp. designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. It operates in two segments, Environmental Solutions Group and Safety and Security Systems Group. The Environmental Solutions Group segment offers a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks, and water blasting equipment under the Elgin, Vactor, Guzzler, Westech, and Jetstream brand names. The Safety and Security Systems Group segment provides systems and products for campus and community alerting, emergency vehicles, first responder interoperable communications, and industrial communications, command and municipal networked security. This segment sells its products under the Federal Signal VAMA, and Victor brand names. It sells its products through wholesalers, independent manufacturer representatives, original equipment manufacturers, as well as independent foreign distributors. “

Separately, BidaskClub upgraded Federal Signal Corporation from a hold rating to a buy rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $21.50.

Federal Signal Corporation (NYSE FSS) opened at 21.62 on Tuesday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 33.01 and a beta of 1.38. Federal Signal Corporation has a 52-week low of $11.68 and a 52-week high of $21.94. The stock has a 50 day moving average of $19.81 and a 200-day moving average of $17.30.

Federal Signal Corporation (NYSE:FSS) last announced its quarterly earnings data on Tuesday, August 8th. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Federal Signal Corporation had a return on equity of 10.59% and a net margin of 5.20%. The company had revenue of $224.40 million for the quarter, compared to analysts’ expectations of $206.53 million. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue was up 30.2% compared to the same quarter last year. On average, analysts forecast that Federal Signal Corporation will post $0.79 EPS for the current year.

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Several institutional investors have recently made changes to their positions in FSS. IFP Advisors Inc raised its stake in shares of Federal Signal Corporation by 12,320.0% during the 2nd quarter. IFP Advisors Inc now owns 6,831 shares of the conglomerate’s stock worth $119,000 after purchasing an additional 6,776 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of Federal Signal Corporation by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock worth $137,000 after purchasing an additional 86 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Federal Signal Corporation during the 1st quarter worth approximately $162,000. BNP Paribas Arbitrage SA raised its stake in shares of Federal Signal Corporation by 7.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,646 shares of the conglomerate’s stock worth $175,000 after purchasing an additional 915 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in shares of Federal Signal Corporation by 6.7% during the 1st quarter. Mason Street Advisors LLC now owns 13,965 shares of the conglomerate’s stock worth $193,000 after purchasing an additional 875 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

About Federal Signal Corporation

Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.

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